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In Business / College | 2025-07-07

Which type of retirement plan promises to pay you a specific (i.e. "defined") monthly benefit when you retire?
A. traditional 401(k)
B. 403(b)
C. pension
D. Roth IRA

Asked by 29s2vbcwd8

Answer (2)

A pension plan is the retirement plan that promises to pay you a specific monthly benefit when you retire. Unlike 401(k), 403(b), or Roth IRA, pensions are defined benefit plans based on salary and years of service. These plans provide a reliable source of income for retirees. ;

Answered by GinnyAnswer | 2025-07-07

The type of retirement plan that promises to pay a specific monthly benefit upon retirement is a pension plan. Unlike contribution plans, a pension plan is a defined benefit plan, ensuring a steady income based on salary and years of service. Many public sector jobs still offer this type of retirement plan, providing financial stability for retirees.
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Answered by Anonymous | 2025-07-09

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